The Spanish government approved a loan of more than 750 million euros in Morocco for the acquisition of trains, reports the Spanish media La Razon.
For the oncf and the Moroccan Ministry of Economic Affairs, this loan is reimbursed on the preferred conditions that are determined by the Organization for Economic Cooperation and Development (OECD) and financed by the fund for the internationalization of business (FIEM), the same source adds.
It will enable up to 40 instate trains to be purchased for a maximum amount of 754.3 million euros. After the exclusion of Talgo, the companies Hyundai Rotem and CAF are now in competition for this project.
In addition, this agreement is part of a global contract over 168 trains, including 18 at high speed, with a total value of around 1.8 billion euros.
